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on matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others, especially about New York City real estate
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Sep. 15, 2009
Not a pretty story reported in The Real Deal (last Friday, on line) about a Manhattan loft developer default, CIT Group sues for $12M at Noho condo site. I don't have a lot of any experience running numbers on a development project, but this seems like it
Aug. 23, 2009
It has been quite a while since I posted loft-closings-in-last-30-days, but I have not stopped keeping track of Manhattan residential lofts as they close. While there are many limitations in the data (discussed below), the collection is worthwhile enough
Aug. 12, 2009
Categorized in: Market Trends
The new development at 246 West 17 St poses a bit of a description conundrum for true Manhattan loft snobs, as it is both a conversion of a 3-story loft building into true "lofts" and the addition of 7 floors of ("loft-like") new construction on top of th
Aug. 3, 2009
The Manhattan loft conversion at 158 West 23 Street started marketing in mid-2007, offering floor-through lofts of "1,865 sq ft" that were offered as open spaces with full kitchens and (usually) (only) 1.5 baths. I.e., not exactly white boxes, but with sp
Jul. 7, 2009
Categorized in: Market Trends
The Manhattan loft #2B at 109 Greene Street has sold three times since it was brand spanking new in 2005. This is going to get bumpy, but let's get out some facts (closing dates and clearing prices), then chew
Jul. 6, 2009
Categorized in: Market Trends
The Manhattan loft in the new development (well, it was new in 2007) Five Nine John Lofts, #PH2 at 59 John Street, closed on June 24 at the recently public price of $1.35mm. Billed as the "last sponsor unit", this "1,612 sq ft" loft (with "1,592 sq ft" wr
May. 8, 2009
The Manhattan loft #4-I at 260 Park Avenue South sold in March $2,000 lower than these sellers paid in July 2006.
Mar. 7, 2009
For the 30 days prior to February 11, 2009 our inter-firm data base reported as Sold and Closed Manhattan "lofts" 13 resales and 21 developer/sponsor sales in new developments, compared to the 22 and 28 reported in January, and the 24 and 19 reported in D
Feb. 11, 2009
Categorized in: pricing analysis
velocity x magnitude = whiplash
The speed at which the Wanna-Be-Seller adjusted the asking price for this Manhattan loft is remarkable, as is the magnitude: the $796,000 price reduction was a 40% "discount" off the asking price. Yowza. (How's that for p
Jan. 29, 2009
Categorized in: Market Trends
There's a pretty new listing in one of those veddy veddy architecturally significant new Manhattan loft developments that has me scratching my head. Then another one popped up in a less significant but still pretty new new development. Then yet another fl
Jan. 7, 2009
So what does it mean? I infer that the strong data (overall Manhattan loft average price per foot; median sales prices in nabes other than Greenwich/East/West Village) is driven by new development sales, which -- of course -- were 'set' by contracts signe
Dec. 30, 2008
How's this for a quick sale? The Manhattan loft #3B at 139 Reade Street came to market on September 28 at $2.875mm and found a contract within six weeks, then closed in another 4 weeks. In any market it could be considered quick work to bank your cash 11
Dec. 26, 2008
I realized when I did my post of 30 days of actual loft sales on December 18 that 15 East 26 Street (15 Madison Square North) was a very successful new Manhattan loft development, with many contracts signed quickly in 2006, some of which are just closing
Mar. 26, 2008
The odyssey of #7B at 260 Park Avenue South is given public notice of a successful conclusion in this weekend's Just Sold section of the NY Post's Real Estate Section. As noted, it took 374 days for this new Manhattan loft to close at $3.45mm off the (mos
Jan. 25, 2008
Categorized in: open houses
Here are three Sunday loft open houses at the same price in very different Manhattan neighborhoods, at sizes ranging from almost 2,400 sq ft to just over 1,600 sq ft, all with fairly deluxe finishes, all in new developments. One has a huge wrap terrace, o
Dec. 19, 2007
At “1,982 sq ft” and asking (most recently) $1.75mm, the Manhattan loft #3E at 81 White Street looks like a bargain for a condo in a “classic Tribeca prewar loft building that was completely renovated in 2005”, doesn’t it? Particularly with the
Dec. 7, 2007
The Manhattan penthouse loft #5A at 6 East 1 Street is asking $6.9mm and $3,119/mo in a newly developed condo (Brick House Lofts), for “3,082 sq ft” of triplexed space with a huge terrace off the “middle” level and a roof terrace on top. I also kn
Nov. 8, 2007
Plans announced to (again) build Manhattan condominium lofts in a Toy Building on Broadway, just west of Madison Square Park.
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